5 Best Stocks to Buy in 2021 According to Cathie Wood

2. Teladoc Health, Inc. (NYSE: TDOC)

Number of Hedge Fund Holders: 50   

Teladoc Health, Inc. (NYSE: TDOC) is a New York-based telemedicine and virtual healthcare firm founded in 2002. It is ranked second on our list of 10 best stocks to buy in 2021 according to Cathie Wood. Ark Investment is bullish on the company, holding over 14 million shares in the company worth over $2.6 billion, representing over 5% of the investment portfolio of the hedge fund. Teladoc stock has returned more than 1.1% to investors in the past week. The company provides medical institutions with analytics and artificial intelligence services as well.

On May 3, investment advisory Cantor maintained a Neutral rating on Teladoc Health, Inc. (NYSE: TDOC) stock with a price target of $210, implying a 21% upside potential, on the back of commodity-like outlook on telehealth firms. 

At the end of the fourth quarter of 2020, 50 hedge funds in the database of Insider Monkey held stakes worth $2.6 billion in Teladoc Health, Inc. (NYSE: TDOC), up from 47 in the preceding quarter worth $997 million. 

In its Q4 2020 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Teladoc Health, Inc. (NYSE: TDOC) was one of them. Here is what the fund said:

“Teladoc Health offers remote physician access to patients at home. After experiencing incredible levels of growth throughout the early stages of the pandemic as its unique value proposition rose to the forefront of the healthcare industry, the firm’s shares cooled off a bit as optimistic vaccine data slightly curtailed investor expectations for the firm’s future growth potential. We sold the stock.”